All Eyes on DNC, Powell Friday Speach as Market Advances Monday
Good morning, traders, and happy Monday, August 19th; I'm back from a week-long trip to the Adirondack mountains. I missed a big week for retail company earnings, but I'm happy to return before Fed Prez Jerome Powell Speaks about monetary policy at Jackson Hole on Friday. The Democratic National Convention also began Monday, but there has been little stock market-related news out of the Harris campaign.
Here are stocks moooving on Wall Street today.
Estée Lauder Cos. $Estee Lauder (EL.US)$ fell about 2% Monday after beating estimates for sales and EPS, but reporting it had begun a search for a new CEO. CEO Fabrizio Freda plans to retire at the end of fiscal year 2025 after 16 years in the job.
$HP Inc (HPQ.US)$ shares fell nearly 4%, after a Morgan Stanley analyst downgrade.
Zim Integrated Shipping $ZIM Integrated Shipping (ZIM.US)$ rose 19% Monday after the company lifted its guidance, driven by continued supply pressure from the Red Sea crisis, and achieved a record high level of carried volume for the second quarter. The firm swung a $213M loss in Q1 to a Q2 profit of $373M profit.
$Advanced Micro Devices (AMD.US)$ was leading AI semiconductor news after the firm agreed to pay $5B for data-center equipment designer ZT Systems. Wall Street Journal reported the firm is using a 75% cash/25% stock ratio, about $3.375 billion in cash and nearly 8.34 million shares valued at $1.125 billion, or around $134.96 apiece, well below the current trading p[rice of $150.
Investors are watching for a few retail-focused firms this week. $Lowe's Companies (LOW.US)$ arrives Tuesday, $Target (TGT.US)$ on Wednesday. There are tech firms aswell, with $Zoom Video Communications (ZM.US)$ and Wednesday. $Palo Alto Networks (PANW.US)$ Palo Alto Networks reports tonight after the closing bell.
$Crude Oil Futures(JAN5) (CLmain.US)$ fell, $Bitcoin (BTC.CC)$ fell to $58k, Gold remained at its multi-year high.
$U.S. 2-Year Treasury Notes Yield (US2Y.BD)$ climbed, and the $U.S. 10-Year Treasury Notes Yield (US10Y.BD)$ fell.
The market was gaining ground Monday morning after two weeks of gains. The S&P 500, Dow Jones Industial Average, and Nasdaq were up 6-8% overall in the past seven sessions, rebounding from a red July in the hopes that the Federal Reserve will signal rate cuts soon.
Just past 10:17 am ET the $S&P 500 Index (.SPX.US)$ climbed 0.02%, the $Dow Jones Industrial Average (.DJI.US)$ climbed 0.18%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.15%.
This week in macroeconomics, investors are awaiting Powell's speech at Jackson Hole on Friday at 10 am ET, catch it live on moomoo with our broadcast and commentary.
(To see these stocks and more on the options page, click here.)
Interested in Options? Click here to join our exclusive options chat with personal callouts from our resident expert, Invest with Sarge. Want to learn more about options, check out moomoo education with this link!
Traders, what do you think, is the market in 2024 about following the herd? What you watching on the stock market today? What is the herd following? Let me know in the comments below!
Disclaimer: This content is for informational use only and is not a recommendation or endorsement of any particular investment or strategy. Indexes are unmanaged and cannot be directly invested into. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances, before making any investment decisions. Past performance does not indicate or guarantee future success. Moomoo makes no representation or warranty as to its adequacy, or timeliness for any particular purpose of the above content. The data and information provided has been obtained from sources considered to be reliable, but moomoo does not guarantee that the foregoing material is accurate or complete. See the link in the Moovers Community post for more information.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
Moomoo News and Community Manager
Moo moo News and Community Manager, NJ Office.
Fmr CNBC contributor, reporter/investor/trader
Posts do not represent mm
6340Followers
620Following
17KVisitors
Follow
Red__Bull : DNC - will be interesting week for the markets. Will they keep talking price controls, high cap gains tax, un-realized cap gains tax? If so, major sell-off signals.
Kevin Travers OP Red__Bull : I feel they will finally have to finalize what their policys like that actually look like this week. Dems have been so happy t odonate to a younger politician with oval office experiance stepping in to run, but they have not made clear what she stands for besides Biden lite basically
LittleSoldier : She is a train wreck to say the least, price control is a disastrous idea that will cause businesses to close and unemployment. Not to mention the idea of 25k for first time buyers will end up likely a repeat of 2008 housing market crash!!!
Kevin Travers OP LittleSoldier : after the covid hand out checks and PPP money programs and all the money they printed to do that in 2020, I think we all look at stimulus policy with a different eye than before
LittleSoldier : One of many hand out policies that their solution seems to be to just print more. Between an estimated 10 to 18 million illegals pumped into social security, Medicaid, Housing. Free Student loans and crippling energy demands is not sustainable!!
Kevin Travers OP LittleSoldier : who was president during the PPP program and stimulus checks?
LittleSoldier : There was 3 stimulus with both presidents
LittleSoldier : But if your asking I’m voting for Trump
70729743 :
DonOld doesn't even stand a chance. Have you looked at the polls? He's way behind clown. Your identity will be erased soon.
Space Dust LittleSoldier : oh,
. Jeffreys buddy and frequent 
.. who was it that did the inflation everyone is blaming the FOLLOWING administration for? hint* 
..
to the most anti American thing? 
which is what demolished the economy. and caused the inflation!
warp 
speed 
? who bragged about that to , last time I 
, the people who are mostly anti 
. ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
idea 
to brag about cutting 
out safety 
protocols, testing for 🛟
safety?
to absolve the 
and blame the " best people" he hired ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
.
and photos 
, she went from ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
to " 
her up".. then, when elected, ![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
? " the Clintons are fine people".
![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Who STARTED the ball rolling
and as TIME HAS SHOWN, was it such a great
only hires the best people? so, when someone fails, he is the FIRST
HRC, like Jeffrey, there are his historical quotes
View more comments...